Section 108 Microloan Program

  1. Entrepreneurship
  2. Funding Opportunities
Economic Development

City Hall

144 Tichenor Ave, Suite 2

Leslie B. Chambers

Leslie B. Chambers

Economic Development Finacial Manager

The purpose of the CDBG Section 108 Microloan program is to provide small, short-term business loans for active small businesses and startups. Loans may be used for small real estate purchases, inventory, working capital, supplies, furniture, fixtures, machinery and equipment.

Microloan Details

  • Amount: up to $35,000
  • Term: up to 6 years
  • Rate: determined during application process
  • Jobs: entrepreneurs are to make jobs available principally for low- and moderate-income citizens